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republicans in the house want spending cuts if the debt ceiling is raised. >>> on wall street, stocks traded mostly sideways as the markets finished mixed. dow industrial gained 18 points. nasdaq dropped 8 weighed down by a decline in apple. the company saw its stocks slump following report apple has cut orsd for iphone 5 components. the report suggests demand for the iphone 5 stagnated relatively quickly. stokss dripped below 500 down $18 and change or 3 and a half percent. apple's all-time high is 700. >>> a bay area pizza chain is giving money back to its workers. ahead in eight minutes how the mistakes it made will be swallowed by customers. >>> the 2013 lease will be priced at just below 29 thousand tlrs. that's a 6 thousand $reduction from the previous model year. based on production of the e lek tris lease sold in the u.s. to tennessee to japan. >>> it's the confession many people have been waiting for. seven-time tour de france winner lance armstrong reportedly admitted to using performance-enhancing drugs. associated press said armstrong confessed in an interview today with o
republicans in the house want spending cuts if the debt ceiling is raised. >>> on wall street, stocks traded mostly sideways as the markets finished mixed. dow industrial gained 18 points. nasdaq dropped 8 weighed down by a decline in apple. the company saw its stocks slump following report apple has cut orsd for iphone 5 components. the report suggests demand for the iphone 5 stagnated relatively quickly. stokss dripped below 500 down $18 and change or 3 and a half percent. apple's...
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ceiling. >> raising the debt ceiling does not authorize us to spend more. all it does is say that america will pay its bills. we are not a deadbeat nation. >> house republicans want spending cuts as part of a deal to lift the debt ceiling. without an agreement the country has until around march 1 before it may not be able to meet financial obligations. >> today is the one month anniversary of the deadly school shooting in newtown, connecticut. in washington, bay area members are among the group of democrats meeting with vice president biden about gun control. the vice president could turn over his proposals to president obama as early as tomorrow. >> a month ago today, the shooting massacre at sandy hook elementary school shocked the nation. and re-ignited a fierce battle over america's relationship with guns. tomorrow, vice president biden will recommend a robust gun control game plan to president obama including stronger background checks for all gun purchases, a ban on high capacity magazine clips, and a renewed ban on assault weapons. >> my starting poi
ceiling. >> raising the debt ceiling does not authorize us to spend more. all it does is say that america will pay its bills. we are not a deadbeat nation. >> house republicans want spending cuts as part of a deal to lift the debt ceiling. without an agreement the country has until around march 1 before it may not be able to meet financial obligations. >> today is the one month anniversary of the deadly school shooting in newtown, connecticut. in washington, bay area members...
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ceiling. >> raising the debt ceiling does not authorize us to spend more. all it does is say that america will pay its bills. we are not a deadbeat nation. >> house republicans want spending cuts as part of a deal to lift the debt ceiling. without an agreement the country has until around march 1 before it may not be able to meet financial obligations. >> today is the one month anniversary of the deadly school shooting in newtown, connecticut. in washington, bay area members are among the group of democrats meeting with vice president biden about gun control. the vice president could turn over his proposals to president obama as early as tomorrow. >> a month ago today, the shooting massacre at sandy hook elementary school shocked the nation. and re-ignited a fierce battle over america's relationship with guns. tomorrow, vice president biden will recommend a robust gun control game plan to president obama including stronger background checks for all gun purchases, a ban on high capacity magazine clips, and a renewed ban on assault weapons. >> my starting poi
ceiling. >> raising the debt ceiling does not authorize us to spend more. all it does is say that america will pay its bills. we are not a deadbeat nation. >> house republicans want spending cuts as part of a deal to lift the debt ceiling. without an agreement the country has until around march 1 before it may not be able to meet financial obligations. >> today is the one month anniversary of the deadly school shooting in newtown, connecticut. in washington, bay area members...
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government will run out of money to pay its bills if congress does not raise the debt ceiling. president barack obama will not negotiate with congress on this issue. while republicans want any increase in the debt ceiling to be tied to spending cuts... >> the issue here is whether or not america pays its bills. we are not attend beat nation and so -- there is a very simple solution to this. >> now in a statement, house speaker phil boehner indicated the republican party is prepared for a fight and the consequences of increasing the debt ceiling are real but so too is the consequences of allowing our spending problem to go unresolved. >>> they are closely watching this debt ceiling battle in washington and if congress does not act on the debt ceiling, the national economy could fall and that would have a negative affect on california's budget numbers. they revealed a budget surplus in many years and that's thanks to a new tax revenue from proposition 30 as well as spending cuts. >>> the social media is buzzing about a possible announcement by facebook. janine de la vega joins us
government will run out of money to pay its bills if congress does not raise the debt ceiling. president barack obama will not negotiate with congress on this issue. while republicans want any increase in the debt ceiling to be tied to spending cuts... >> the issue here is whether or not america pays its bills. we are not attend beat nation and so -- there is a very simple solution to this. >> now in a statement, house speaker phil boehner indicated the republican party is prepared...
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ceiling. in a statement, senate minority leader mitch mcconnell says the debted limit is the time to get on reducing spending. gun control is also an issue. >> responsible gun owners, people who have a gun for protection, for hunting, for sportsmanship, uhm, they don't have anything to worry about. >> reporter: the national rifle association has already made clear, it has enough support in congress to block legislation that restricts gun ownership. >> i would say that the likelihood is that they are not going to be able to get an assault weapons ban through this congress. >> reporter: moderate lawmakers say there is a better chance of passing laws that limit the number of bullets in ammunition magazines and improve background checks. vice president joe biden is meeting with house members today about gun control. the president said he would give details from the gun violence task force sometime later this week. at the white house, danielle nottingham, cbs 5. >>> the 16-year-old who opened fire
ceiling. in a statement, senate minority leader mitch mcconnell says the debted limit is the time to get on reducing spending. gun control is also an issue. >> responsible gun owners, people who have a gun for protection, for hunting, for sportsmanship, uhm, they don't have anything to worry about. >> reporter: the national rifle association has already made clear, it has enough support in congress to block legislation that restricts gun ownership. >> i would say that the...
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ceiling f.congress raises the debt cell what does it do. puts us more in debt. >> it allows him to borrow more money. >>reporter: half the people we talked to had no idea what the debt ceiling was. she blamed lawmakers. >> i believe honestly they make things purposely confuse to go do whatever they want. >>reporter: so if the president wants to turn up the heat on house republicans he has to make the issue clear and as bruce explains, republicans need to decide if they really want to stand their ground on this issue at the risk of economic down tivrnlt i think a lot has to do yes tea party you want to make a case is this the time to do it and right way to do it. that i think is boehner responsibility to explain that to his caucus members. my unitsing that's what he's planning to do over the next couple days. >>reporter: tea party express issued a statement saying it's completely irresponsible for the president of the united states to demagog this issue. the president will have big opportunity to speak to the nation on this if he chooses t t
ceiling f.congress raises the debt cell what does it do. puts us more in debt. >> it allows him to borrow more money. >>reporter: half the people we talked to had no idea what the debt ceiling was. she blamed lawmakers. >> i believe honestly they make things purposely confuse to go do whatever they want. >>reporter: so if the president wants to turn up the heat on house republicans he has to make the issue clear and as bruce explains, republicans need to decide if they...
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raising the debt ceiling does not authorize more spending. it simply allows the country to pay for spending that congress has already committed to. these are bills that are ready been racked up. we need to pay them. i am willing to compromise and find a common ground on how to reduce our deficit america cannot avoid another debate with this progress about whether or not they should pay the bills that they have already racked up. if congressional republicans refused to pay america's bills on time, so security checks and veterans' benefits will be delayed. we may not be able to pay our troops or on our contracts with small business owners. food inspectors, air traffic controllers, specialists who track down those of nuclear materials would not get their paychecks. the rest of the world would ask if the united states of america is in fact a stay at bat. market to go haywire and as rates could spike for anyone. it would be a self- inflicted wound on the economy. that would slow down our growth and tip into recession. ironically, it would increase
raising the debt ceiling does not authorize more spending. it simply allows the country to pay for spending that congress has already committed to. these are bills that are ready been racked up. we need to pay them. i am willing to compromise and find a common ground on how to reduce our deficit america cannot avoid another debate with this progress about whether or not they should pay the bills that they have already racked up. if congressional republicans refused to pay america's bills on...
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." >> catherine: another battle the president is facing -- the debt ceiling. he called on congress today to act quickly to raise it.saying america is not a 'dead-beat nation' that doesn't pay its bills. he says the mere threat of defaulting on government obligations is hurting the economy. the government has hit its borrowing limit and is expected to run out of ways to pay bills by early march. most people have never heard launchers and other weapons. former president bush is finally released from a hospital. right now, 40's through daly city. as for the current temperatures? quickly dropping into the 40's. 44 in daly city. a 49 in fremont. but we are in for a nother round of the 30's and '40's again tonight. from the san mateo bridge we are seeing clear skies. the cold air mass with the combination of these things and a light went with cold temperatures and yet again the. taking a look at futurecast. widespread 30's. take a look a your screen. already 20's and 30's for the north bay. temperatures will start to warm up of but very slowly. still dealing with a
." >> catherine: another battle the president is facing -- the debt ceiling. he called on congress today to act quickly to raise it.saying america is not a 'dead-beat nation' that doesn't pay its bills. he says the mere threat of defaulting on government obligations is hurting the economy. the government has hit its borrowing limit and is expected to run out of ways to pay bills by early march. most people have never heard launchers and other weapons. former president bush is finally...
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the debt ceiling and you did. last year you said you wouldn't extend any of the bush tax cuts for the wealthy and you did. so as you say now that you're not going to negotiate on the debt ceiling, this year, why should house republicans take that seriously and think that if we get to the one minute to midnight scenario that you're not going to back down? >> well, first of all, juliana, take the example of this year and the fiscal cliff. i didn't say that i would not not have any conversations about extending the bush tax cuts, what i said we wouldn't extend bush tax cuts for wealthy and we didn't. we can argue during the campaign that i said, i set the criteria for wealthy at 250, and we ended up being at 400. but the fact of the matter is that millionaires, billionaires, are paying significantly more in taxes, just as i said. so from, you know, from the start my concern was making sure that we had a tax code that was fair and that protected the middle class and my biggest priority was making sure middle class tax
the debt ceiling and you did. last year you said you wouldn't extend any of the bush tax cuts for the wealthy and you did. so as you say now that you're not going to negotiate on the debt ceiling, this year, why should house republicans take that seriously and think that if we get to the one minute to midnight scenario that you're not going to back down? >> well, first of all, juliana, take the example of this year and the fiscal cliff. i didn't say that i would not not have any...
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we hit that debt ceiling and now it's about the debt limit. >> we hit it in technically in december but in order to keep paying the bills the government delayed some payments so it looks like we'll hit that ceiling or that limit again in mid february. congress has got to do something about that. the house is back today. republicans are going to push for spending cuts. remember their mantra has been no more borrowing without limiting what we're spending and among spending cuts they are likely to look at social security this time. >> there's also some trouble on capitol hill ahead of chuck hagel's confirmation hearing. >> the confirmation hearings we have coming up at least three of them. chuck hagel could be the most difficult because democrats and republicans here have some challenges and lots of questions for him. still they say about the stance on iran and things he said about iraq and israel and whether he stands close enough with israel as ally. the white house is confident he'll be confirmed. it's not going to be an easy process. >> one month since the school shooting at sandy hook
we hit that debt ceiling and now it's about the debt limit. >> we hit it in technically in december but in order to keep paying the bills the government delayed some payments so it looks like we'll hit that ceiling or that limit again in mid february. congress has got to do something about that. the house is back today. republicans are going to push for spending cuts. remember their mantra has been no more borrowing without limiting what we're spending and among spending cuts they are...
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adam: before we get to the debt ceiling. california overestimated how much tax revenue they would get from the facebook ipo. the overestimated by $600 million. you can hear jerry brown doing a homer simpson. can you trust governments to get the numbers right? the fight over the debt ceiling is in full force. as democratdemocrats propose a o eliminate it completely and the ratings have come out with two scenarios in which it was downgraded the u.s. credit rating. not good news. some republicans are relishing the debt ceiling does indeed have to be raised. joining us now, ihs chief economist and we appreciate you being here. is this fight we are about to have necessary, and what is going to happen to whether it is the global market, 401(k), what will happen to all of us if congress passes this fight? >> this is not a necessary fight. this situation created by congress which sent the debt ceilinfrom years ago in hopes it would impose some discipline but of course it hasn't because it has been raised and raised and raised and no
adam: before we get to the debt ceiling. california overestimated how much tax revenue they would get from the facebook ipo. the overestimated by $600 million. you can hear jerry brown doing a homer simpson. can you trust governments to get the numbers right? the fight over the debt ceiling is in full force. as democratdemocrats propose a o eliminate it completely and the ratings have come out with two scenarios in which it was downgraded the u.s. credit rating. not good news. some republicans...
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. >>> still ahead, debt ceiling deja vu. from social security to interest rates, the president lays down the law and the cuts that could be coming our way. but is the situation as dire as they make it? >>> a somber anniversary in newtown as parents mark one month since their children were killed. their new proposal today and the unthinkable has happened again. a brutal gang rape in india that started with just a bus ride next in "world tonight." >>> also, he used to shoot with his gun. now this former cop uses his camera to shoot 49ers games. >>> welcome back. now if you thought the doomsday scenarios were bad under the fiscal cliff, just wait for what's coming next. >> the debt ceiling talks are under way. president obama warns the dire consequences if congress fails to raise our borrowing limits. in tonight's reality check, sam brock explains why most people should just take a deep breath. sam? >> raj, it would be therapeutic if nothing else. there is certainly little refuting the failure to raise the debt ceiling would se
. >>> still ahead, debt ceiling deja vu. from social security to interest rates, the president lays down the law and the cuts that could be coming our way. but is the situation as dire as they make it? >>> a somber anniversary in newtown as parents mark one month since their children were killed. their new proposal today and the unthinkable has happened again. a brutal gang rape in india that started with just a bus ride next in "world tonight." >>> also, he...
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>> the problem is not the debt ceiling or debt limit the problem is the debt. the reason why we have a legal limit on the debt if we keep borrowing we're going to hurt everyone who lives there. i think the president is trying to scare people and distract from the main issue. he said he was going to cut the deficit his first year in office we doubled it every year. it's time to make hard decisions. there is ongoing wrong with suggesting over the next ten years, we stop borrowing from our children's future and we balance our budget. we can do that. i think most americans will agree. >> neil: you got to wonder, if the mainstream media that republicans are being obstructionists if they dare reject raising the debt ceiling but they didn't do it to a single democrat seven years ago including senator barack obama, then republicans are damned no matter what they do? >> it's part of the strategy of this administration on fiscal cliff, on all kinds of issues is to frighten people, frighten seniors. we need to reassure seniors with their truth, their social security and m
>> the problem is not the debt ceiling or debt limit the problem is the debt. the reason why we have a legal limit on the debt if we keep borrowing we're going to hurt everyone who lives there. i think the president is trying to scare people and distract from the main issue. he said he was going to cut the deficit his first year in office we doubled it every year. it's time to make hard decisions. there is ongoing wrong with suggesting over the next ten years, we stop borrowing from our...
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the debt ceiling is announcing the amount of money the states can borrow. today the president responded to some republicans who say they are willing to shut down the government if the president doesn't back down. ultimately congress makes decisions about whether or not we spend money and keep the government open. if they decide they want to shut down the government in order to get their way they have the votes in the house of representatives to do that. i think that would be a mistake. >> john boehner responded the american people do not support raising the debt ceiling without reducing government spending statement. wendell, a government shut down, is that something that really might happen? neither side is ready to blink yet. he has laid out they are ready to compromise if possible that could lead to a government shut down although probably not right away. president obama suggested right before the u.s. the people at home might be told they have to wait for their money. >> if congressional republicans refuse to pay america's bills on time social security
the debt ceiling is announcing the amount of money the states can borrow. today the president responded to some republicans who say they are willing to shut down the government if the president doesn't back down. ultimately congress makes decisions about whether or not we spend money and keep the government open. if they decide they want to shut down the government in order to get their way they have the votes in the house of representatives to do that. i think that would be a mistake. >>...
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senator against the debt ceiling, he talked in essence how irresponsible it was to raise the debt ceiling. what in the world happened between then and now? why does somebody responsible for something raise the debt ceiling that wasn't before? what's the difference? >> i think that the president was terribly irresponsible, to say he's not talking about it because he's above it to blame congress, in part congress creates this problem, but we're going to solve this problem. i got elected to uphold the constitution and leave this country better than how we found we can't keep spending our kids inheritance, can't keep spending their money, we don't have it. >> greta: apparently he has threatened, i think his statement, at least people-- that in the event, congress doesn't authorize to raise that debt ceiling that he will do it unilaterally himself and he thinks he has the authority. do you >> absolutely not. under the 14th amendment of the constitution you can only do this as authorized by law and law is only created through the united states congress. so the president has absolutely no ground
senator against the debt ceiling, he talked in essence how irresponsible it was to raise the debt ceiling. what in the world happened between then and now? why does somebody responsible for something raise the debt ceiling that wasn't before? what's the difference? >> i think that the president was terribly irresponsible, to say he's not talking about it because he's above it to blame congress, in part congress creates this problem, but we're going to solve this problem. i got elected to...
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here's one way washington can avoid the debt ceiling showdown, get rid of the debt ceiling altogether. tracy: and grounded, and other emergency landing for boeing's dreamliners. planned as the top two airlines stopped planes from flying altogether. lori: on a post-it note just isn't enough. employee who allegedly stole $400,000 worth of copy machine toner and resold it on the black market. you have to hear it to believe it. tracy: top of the hour. nicole petallides on the floor of the new york stock exchange. we can't seem to find our footing. nicole: interestingly enough we are not too far off of the unchanged line but we are up six of the last eight trading weeks. hovering around five year highs. as you noted early on, talk a lot about boeing weighing on the dow jones industrials today play with one issue after another. the s&p 500 down one point at 1471. it is also earning season. how they are faring. they came out obviously earnings-per-share eating earnings slightly miss. a new high for dell. and all those names are lower. continue to follow earnings here all week on fox business
here's one way washington can avoid the debt ceiling showdown, get rid of the debt ceiling altogether. tracy: and grounded, and other emergency landing for boeing's dreamliners. planned as the top two airlines stopped planes from flying altogether. lori: on a post-it note just isn't enough. employee who allegedly stole $400,000 worth of copy machine toner and resold it on the black market. you have to hear it to believe it. tracy: top of the hour. nicole petallides on the floor of the new york...
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he voted against the debt ceiling i believe in 2006. why all of a sudden does he not want have to have negotiations? >> i think will's happened, larry, is that the president spent 2011 and 2012 with republicans squeezing him on his priorities, having opposed him during the first two years of his presidency. then that really had the wind at their back. the tea party election of 2010 had given republicans very big numbers on the hill. and he's decided that he backed up, and he backed up and he backed up, and he's not going to back up anymore. he took his argument to the american people in the election. he won the election. they held the house, that is true. but he's decided that he's been vindicated by public opinion broadly, and he's going to try to hold that ground. the question is going to be, larry, at the end of the year on the tax issue, he had the hammer behind him of the expiration of all the bush tax cuts. he does not have that hammer right now. what he has is the prospect of a catastrophic standoff between republicans and democr
he voted against the debt ceiling i believe in 2006. why all of a sudden does he not want have to have negotiations? >> i think will's happened, larry, is that the president spent 2011 and 2012 with republicans squeezing him on his priorities, having opposed him during the first two years of his presidency. then that really had the wind at their back. the tea party election of 2010 had given republicans very big numbers on the hill. and he's decided that he backed up, and he backed up and...
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their debt ceiling debate may have ended higher with their ball recalls perry ebauer arena cost >> here is the bottom line right now, we have debt problems and the united states. we are borrowing at a record low. we go bankrupt and we shut down our country and we lose everything we are definitely needing to start to think about how to cut down spending very at just like mortgage rates will go higher. it is coming. >> it is like getting a credit card and 1%. when the federal government is one it is okay. it is a good time to borrow. but when it is 8% you do not want to the ballroom. >> a another winner is a the driverless cars that are coming to show rooms by 2020. there is a huge an initiative by the government. i keep coming back to, how about this. what about the older people that should not be driving. people want to keep their mobility. my mother can get in a car in the of the take herself to the rose restore. i like this idea. we will see more and more features of this. >> i'm let's talk about our questions. you can send in your questions for rob perry ed >> this is from steve. he
their debt ceiling debate may have ended higher with their ball recalls perry ebauer arena cost >> here is the bottom line right now, we have debt problems and the united states. we are borrowing at a record low. we go bankrupt and we shut down our country and we lose everything we are definitely needing to start to think about how to cut down spending very at just like mortgage rates will go higher. it is coming. >> it is like getting a credit card and 1%. when the federal...
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. >>> there are answers for renewed calls for congress to raise the debt ceiling. for more on that and a look at the world markets and how they did overnight, we turn to seema mody at cnbc world headquarters. >> good morning to you. let's start with markets. futures lower after a mixed session on monday. as you pointed out apple weighing on tech on reports that it is cutting component costs but dell took others higher on talks it's in talk with several firms. we get a trio of federal reserve officials speaking out about the economy today. the dow rising 18 points in yesterday's trade and nasdaq slipping eight to close at 3117. here's our top story. treasury secretary tim geithner is calling on congress to raise the debt ceiling. in a letter to lawmakers geithner says it could cause harm to the u.s. economy. the government will run out of tools to avoid defaulting on debt sometime in late february or early march. that would mean social security and other government benefit checks would stop going out. fed chairman ben bernanke is joining the cause saying the economy
. >>> there are answers for renewed calls for congress to raise the debt ceiling. for more on that and a look at the world markets and how they did overnight, we turn to seema mody at cnbc world headquarters. >> good morning to you. let's start with markets. futures lower after a mixed session on monday. as you pointed out apple weighing on tech on reports that it is cutting component costs but dell took others higher on talks it's in talk with several firms. we get a trio of...
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ceiling after he's already said it's unpatriotic to exceed the debt ceiling in 2007-2008. he's in a very, very tough place. i think the republicans in the house in congress will give him a hard time, won't make it an easy checkbook. they'll ask for something in return, not sure what it's going to be. they'll probably get it, some negotiation, but, again, we already exceed the debt ceiling. $16.4 trillion tim geithner, fudges numbers around, pay the bills until congress signs the increase in debt ceiling. >> a repeat of the fiscal cliff? >> that's what politics is in dc. this is all games, all threats, all the clock is ticking down. makes you worry if the country's going to default. >> eric, here's the thing -- >> at the end of the day, sorry -- >> yeah. at the enof the day, there's a deal. >> yeah, this is like the debt ceiling is a phony argument. it's really about charter renewal. it's a renewal of a charter do continue spending, and what time and again the american people have been misled on the debt ceiling, what we are talking about you can't default. the government c
ceiling after he's already said it's unpatriotic to exceed the debt ceiling in 2007-2008. he's in a very, very tough place. i think the republicans in the house in congress will give him a hard time, won't make it an easy checkbook. they'll ask for something in return, not sure what it's going to be. they'll probably get it, some negotiation, but, again, we already exceed the debt ceiling. $16.4 trillion tim geithner, fudges numbers around, pay the bills until congress signs the increase in...
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the upcoming debt, certainly, the debt ceiling set the tone, really, for what to expect, we think, for the next four years. the battle over that, already. do you see that as the case? >> well, it's certainly going to be a big challenge, both for the president and for republicans. you're already hearing from republicans that came out of their retreat yesterday, essentially walking back, that they were going to use this debt ceiling pretty much to -- you know, as the democrats like to say, to take the economy hostage, to demand spending cuts. they have backed off of that, looking at some plan to raise the debt ceiling at least for the next three months, to give some time for those talks to happen. and there is a big challenge in coming together, because the president still really feels like absolutely, the debt needs to be focus on, it's a huge issue, big priority, but it needs to be done in a balanced way so that all the spending cuts are not focused on programs for those who are most vulnerable. so we'll see. >> so ana, do you think that the debt ceiling will set the tone between the p
the upcoming debt, certainly, the debt ceiling set the tone, really, for what to expect, we think, for the next four years. the battle over that, already. do you see that as the case? >> well, it's certainly going to be a big challenge, both for the president and for republicans. you're already hearing from republicans that came out of their retreat yesterday, essentially walking back, that they were going to use this debt ceiling pretty much to -- you know, as the democrats like to say,...
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. >> president obama making his case for raising the debt ceiling. this morning the president says he will negotiate on spending cuts but not on the debt ceiling. mark matthews is here now with more on what sat stake. >> republicans in the house say they won't raise the debt gmu and president agree to corresponding cuts. the president outlined the stake autos the president began by defining the issue. >> debt keeling is not a question of authorizing more spending. it allows the country to pay for spending that congress is committed to. >> he said americans understand the concept. >> you don't go out to dinner and... then, you know eat all you want. and then... leave without paying a check. >> if you do that, it's against the law, said the president. he added if congress fails to raise the debt ceiling american people will pay the price. >> social security checks and veteran benefits will be delayed. we might not be able to pay our troops or honor our contracts with small business owner autos again and again, the president repeated the fact raising th
. >> president obama making his case for raising the debt ceiling. this morning the president says he will negotiate on spending cuts but not on the debt ceiling. mark matthews is here now with more on what sat stake. >> republicans in the house say they won't raise the debt gmu and president agree to corresponding cuts. the president outlined the stake autos the president began by defining the issue. >> debt keeling is not a question of authorizing more spending. it allows...
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Jan 19, 2013
01/13
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i want to say one word about the debt ceiling. not many people understand what the debt ceiling is about. raising the debt ceiling, which congress has to do periodically, gives the government the ability to pay its existing bills. it doesn't create new deficits. it does not create new spending. so not raising the debt ceiling is sort of like a family, which is trying to improve its credit rating, shane, i know how we can improve our credit rating. we will pay your credit card bills. that is not the best way to improve your credit rating. all of these issues are important, but it is very important that congress take necessary action to raise the debt ceiling to avoid a situation where our government does not pay its bills. >> and number of people have expressed concern about how much of the chill news were addressed in the deal. it went part way, but it leaves a number of issues still on the table and negotiations are looming. would you characterize that as an additional cliff that is facing us? or is it not as concerned as it was
i want to say one word about the debt ceiling. not many people understand what the debt ceiling is about. raising the debt ceiling, which congress has to do periodically, gives the government the ability to pay its existing bills. it doesn't create new deficits. it does not create new spending. so not raising the debt ceiling is sort of like a family, which is trying to improve its credit rating, shane, i know how we can improve our credit rating. we will pay your credit card bills. that is not...
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Jan 14, 2013
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ceiling or the debt limit. where do we go from here? joining me now live mark murray. mark, obviously, the first thing at least some conservatives brought up with the president is that he has taken a different stance in the past when it came to the debt ceiling. >> well, in 2006, then senator barack obama ended up voting against a raise in the debt ceiling. republicans have seized on that saying that the position that president obama's taking today and also in 2011 is inconsistent with that 2006 vote. there is one very big difference between now and 2006. 2006 there wasn't this kind of big protracted battle over the debt ceiling at all. it wasn't a big issue. i was covering politics for nbc at the time. the debt ceiling increase was seen as a procedure and a very partisan vote then but not something you were reporting on for weeks and months like we have in 2011 then and now on the debt ceiling debate and, of course, what happened in 2011 was a loss to the nation's credit rating. there's big differences between
ceiling or the debt limit. where do we go from here? joining me now live mark murray. mark, obviously, the first thing at least some conservatives brought up with the president is that he has taken a different stance in the past when it came to the debt ceiling. >> well, in 2006, then senator barack obama ended up voting against a raise in the debt ceiling. republicans have seized on that saying that the position that president obama's taking today and also in 2011 is inconsistent with...
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Jan 14, 2013
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the other thing coming up is the debt ceiling. something most americans had not even heard of before two years ago. i want to be clear about this -- the debt ceiling is not a question of authorizing more spending. raising the debt ceiling does not authorize more spending. it aallows the -- it allows the country to pay for spending that congress has already attended to. these are bills that we need to pay. so while i'm willing to compromise and find common ground over how to reduce our deficits, america cannot afford another debate with congress about whether or not they should pay the bills they've already racked up. if congress am republicans refuse to pay america's bills on time, social security and veterans benefits will be delayed. we might not be able to pay our troops, small business owners, food inspectors, air traffic controllers, specialists who track down loose nuclear materials wouldn't get their paychecks. investors around the world will ask if the united states of america is, in fact, a safe bet. markets could go hayw
the other thing coming up is the debt ceiling. something most americans had not even heard of before two years ago. i want to be clear about this -- the debt ceiling is not a question of authorizing more spending. raising the debt ceiling does not authorize more spending. it aallows the -- it allows the country to pay for spending that congress has already attended to. these are bills that we need to pay. so while i'm willing to compromise and find common ground over how to reduce our deficits,...
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Jan 14, 2013
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ceiling and your own debt ceiling and doesn't it suggest we're going into a default situation because no one is talking to each other about this. >> no, major, i think if you look at the history. getting votes for the debt ceiling is difficult and votes in in town are difficult. i went through this last year. what is different we never saw a situation like we saw last year in which certain groups in congress took such an absolutist position that we came within a few days of defaulting. >> lou dobbs is the host of lou dobbs tonight on the fox business network. lou, welcome back. what an extraordinary exchange we saw the president have on that issue. basically his position was, we're raising the debt ceiling whether congress wants to or not. i'm not negotiating with them on it. i'm not following what speaker boehner said is the boehner rule of for every dollar we increase the debt limit there will be a spending cut and i'm not going to let them put a gun at the heads of american people because in his terms, they refuse to pay the bills that they've agreed to pay and when asked about the
ceiling and your own debt ceiling and doesn't it suggest we're going into a default situation because no one is talking to each other about this. >> no, major, i think if you look at the history. getting votes for the debt ceiling is difficult and votes in in town are difficult. i went through this last year. what is different we never saw a situation like we saw last year in which certain groups in congress took such an absolutist position that we came within a few days of defaulting....
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Jan 14, 2013
01/13
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on the debt ceiling, and you did. last year you said that you wouldn't extend any of the bush tax cuts for the wealthy. and you did. so if you say now you're not going to negotiate on the debt ceiling this year, why should house republicans take that seriously and think that if we get to the one minute to midnight scenario that you're not going to back down? >> first of all, julianna, let's take the example this year in the fiscal cliff. i did not say i wouldn't have any conversations at all about extending the bush tax cuts. what i said was we weren't going to extend bush tax cuts for the wealthy. and we didn't. now, you can argue that during the campaign i said -- i set the criteria for wealthy at 250 and we ended up being at 400, but the fact of the matter is, millionaires, billionaires are paying significantly more in taxes, just as i said. so from the start, my concern was making sure that we had a tax code that was fair and that protected the middle class, and my biggest priority was making sure the middle class
on the debt ceiling, and you did. last year you said that you wouldn't extend any of the bush tax cuts for the wealthy. and you did. so if you say now you're not going to negotiate on the debt ceiling this year, why should house republicans take that seriously and think that if we get to the one minute to midnight scenario that you're not going to back down? >> first of all, julianna, let's take the example this year in the fiscal cliff. i did not say i wouldn't have any conversations at...
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Jan 14, 2013
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let's use the sequester, but don't use the debt ceiling. that's a bad idea. >> president said he won't negotiate on the debt ceiling. >> i think he's right on that. >> senator, thank you. good to see you. >> thank you. nice to see you all. >>> and we spoke to supreme court justice sonia sotomayor. she spoke with scott pelley about her new york city home and reputation as a tough corporate lawyer. >> you write in your book that one day one of the associates one of your colleagues was on the telephone, and he described you, your words, not mine as one tough -- >> his words. >> as one tough bitch. >> yeah. >> and when you heard that, you thought what? >> what in the world is wrong with me? i was a pretty tough negotiator and hard to push around and i don't think they were used to my kind of toughness then. >> is his description in any way unfair? >> probably not. >> she's been called a lot of things, but she told us more than madam justice, she prefers another title. >> it's sonia from the bronx. >> what does it mean to be sonia from the bronx
let's use the sequester, but don't use the debt ceiling. that's a bad idea. >> president said he won't negotiate on the debt ceiling. >> i think he's right on that. >> senator, thank you. good to see you. >> thank you. nice to see you all. >>> and we spoke to supreme court justice sonia sotomayor. she spoke with scott pelley about her new york city home and reputation as a tough corporate lawyer. >> you write in your book that one day one of the associates...
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Jan 17, 2013
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government to avoid defaulting on its debts even if the debt ceiling is not raised. >> and there is no reason for the government to default unless president obama and the democrats want us to. it's just a scare tactic to continue the spending that they don't want to address. that's why they keep saying, "oh, we're going to default. we're going to default. we're going to default." it's just not true. >> reporter: but talk like that scares many budget analysts in washington. they argue markets will see a failure by the unit ed states to pay any of its bills as a threat it could one day stop paying some or all of its bills, including interest on its debt. >> if we pay the chinese the interest we owe them on their sovereign debt holdings, on time and in full, but we don't pay social security recipients or armed services personnel their salaries, is that a default? well, of course it is. >> reporter: a recent inspector general's report found the treasury doesn't have the computer systems in prioritize some payments over others. so if the treasury runs short of cash, it would most likely del
government to avoid defaulting on its debts even if the debt ceiling is not raised. >> and there is no reason for the government to default unless president obama and the democrats want us to. it's just a scare tactic to continue the spending that they don't want to address. that's why they keep saying, "oh, we're going to default. we're going to default. we're going to default." it's just not true. >> reporter: but talk like that scares many budget analysts in washington....
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credit rating and the debate over the debt ceiling. why some think this could mean new hope for a minting a trillion dollar coin we could use to pay our bills. we thought that was settled. maybe not. and this high school principal is in hot water after trying to connect with students with a video that he says was meant to be a parody. we'll push play and you decide. and a reporter yesterday challenged the president about whether he's doing enough to reach out to republicans and trying to negotiate the big deal he says he's looking for. we'll show you his response and look at what that could mean for the gun debate, the debt ceiling and the rest. >> most people who know me know i'm a pretty friendly guy. and i like a good party. when you have diabetes... your doctor will say get smart about your weight. that's why there's glucerna hunger smart shakes. they have carb steady, with carbs that digest slowly to help minimize blood sugar spikes. [ male announcer ] glucerna hunger smart. a smart way to help manage hunger and diabetes. turn you
credit rating and the debate over the debt ceiling. why some think this could mean new hope for a minting a trillion dollar coin we could use to pay our bills. we thought that was settled. maybe not. and this high school principal is in hot water after trying to connect with students with a video that he says was meant to be a parody. we'll push play and you decide. and a reporter yesterday challenged the president about whether he's doing enough to reach out to republicans and trying to...
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Jan 18, 2013
01/13
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next few months, with this debt ceiling fight. and try to extract more spending cuts out of democrats over the next few months. but again it has become clear through this strategy, appears we're going to have these spending and budgeting fight pretty much every few months in washington, as no long-term strategy is yet to emerge. back to you. ashley: you're thrilled by that, rich edson, thanks so much. tracy: poor guy. all right, let's talk more about that. house republicans laying out their strategy in this debt ceiling fight but will this no budget, no pay thing work to address our physical problems? joining us now, douglas holtz-eakin, president of the american action for rim. rich is talking about we're basically punting the debt ceiling three months. should the republicans drop the debt ceiling fight all together and focus on sequester, continuing resolution? they probably have more room to fight? >> getting it in this order, putting debt ceiling last, other bills first is to their advantage because they're fighting about spen
next few months, with this debt ceiling fight. and try to extract more spending cuts out of democrats over the next few months. but again it has become clear through this strategy, appears we're going to have these spending and budgeting fight pretty much every few months in washington, as no long-term strategy is yet to emerge. back to you. ashley: you're thrilled by that, rich edson, thanks so much. tracy: poor guy. all right, let's talk more about that. house republicans laying out their...
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Jan 16, 2013
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stuart: do you want to sign a debt ceiling increase, do it now? >> no, i don't, but at the same time i would like to have some common sense in the discussion. what we have got are two sides that are also putting other factions at work and other hidden agendas at work and i don't think that's going to get us anywhere soon. that's what makes us look bad, is the fight, not really the outcome, it is the fight. so if we can come to an agreement where we're all happy i think that's possible then we can move on. it makes us look embarrassing to the rest of the world. stuart: what do you think the odds are of a downgrade? >> i think there's a 30% chance, maybe 35% chance. stuart: okay. we will check it out. thank you very much scott shellady always a pleasure. the cost of college tuition continues to rise, got it, but the number of students enrolling is on a decline. fears of massive college debt and the lack of job opportunities when you graduate, that has a lot of families realizing that maybe college isn't worth the investment. joining us now is the au
stuart: do you want to sign a debt ceiling increase, do it now? >> no, i don't, but at the same time i would like to have some common sense in the discussion. what we have got are two sides that are also putting other factions at work and other hidden agendas at work and i don't think that's going to get us anywhere soon. that's what makes us look bad, is the fight, not really the outcome, it is the fight. so if we can come to an agreement where we're all happy i think that's possible...
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he's not negotiating over the debt ceiling. michael, is this more of what we're going to hear from him today? is he going to lay the groundwork for the battle ahead? >> i think so. to some degree i think what's happening is a game of chicken unfortunately. i know the financial markets hate it. and it kind of turns your stomach a little bit. but obama has said we're absolutely not negotiating over the weekend a significant event when the treasury department ruled out this kind of fantastical sounding option of minting a trillion dollar platinum coin. so they've closed yet another door, and he's essentially said, you know, i'm just not playing ball. i read that politico story today as very interesting. it could be john boehner's camp saying we can't control the far right wing. it could also be a little bit of a bluff. it may be that boehner really feels that way or maybe he wants the white house the think he feels that way and it could be, again, part of this grand game of chicken. everyone is positioning right now. that's what's
he's not negotiating over the debt ceiling. michael, is this more of what we're going to hear from him today? is he going to lay the groundwork for the battle ahead? >> i think so. to some degree i think what's happening is a game of chicken unfortunately. i know the financial markets hate it. and it kind of turns your stomach a little bit. but obama has said we're absolutely not negotiating over the weekend a significant event when the treasury department ruled out this kind of...
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Jan 15, 2013
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you have the debt ceiling issue. all of those are in the mix right now because they are all coming to a head at the same time. we are going to need to deal with all of them. can't we be responsible? can't we work collaboratively on this? if we can -- hearing from the white house that, you know, you go figure it out. it is not my problem. i didn't have anything to do with this. that's not the way to go. >> let me ask you about your job as the head of the republican campaign committee. will you support all incumbent house republicans no matter what under all circumstances? or -- is your job to eliminate primary opposition? >> you know, i love how you -- you know, we try to talk in absolutes here. we are a member of organization that supports republicans and republican members of the house. here's when we do and we go out and recruit. i think, you know the voters want to check and balance in washington. we are going to offer a positive alternative. great candidates. we now -- second biggest majority since world war ii c
you have the debt ceiling issue. all of those are in the mix right now because they are all coming to a head at the same time. we are going to need to deal with all of them. can't we be responsible? can't we work collaboratively on this? if we can -- hearing from the white house that, you know, you go figure it out. it is not my problem. i didn't have anything to do with this. that's not the way to go. >> let me ask you about your job as the head of the republican campaign committee. will...
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Jan 20, 2013
01/13
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the republicans blinking and suggesting i want to fight this debt ceiling on this debt ceiling front, which would be good. they are going to keep us going every three months. we never get around to talking about the larger economic question. >> i don't want to have that conversation in the context of the three-month debt ceiling deals. if we are going talk entitlements, is there room to push on the entitlements and suggest a larger social safety net, things like providing opportunities for poor children beginning to close the wealth gap is a priority. >> raise the health care law. i think it's very important to remember that law isn't fully operational, yet. there is -- yes, exactly. there's an enormous amount of work to do. there's a lot of resistance in the states. that's going to be a struggle. >> one piece of that is in 1997 we did a balanced budget deal. one thing that happened when that period of republicans and democrats came together was step back and as part of consolidating the budget, they shift resources. that was the deal. it was a deficit reduction deal. one thing it cre
the republicans blinking and suggesting i want to fight this debt ceiling on this debt ceiling front, which would be good. they are going to keep us going every three months. we never get around to talking about the larger economic question. >> i don't want to have that conversation in the context of the three-month debt ceiling deals. if we are going talk entitlements, is there room to push on the entitlements and suggest a larger social safety net, things like providing opportunities...
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and if we go forward, just drop this debt ceiling craziness, or vote to increase the debt ceiling and also with the continuing resolution and the sequester, that we do things in a bipartisan way, but not necessarily with a majority of the majority in the house. >> stephanie: uh-huh. here is the president yesterday talking about his appointments. >> obama: i would suggest that everybody wait until they have seen all of my appointments who is in the white house staff and who is in my cabinet before they rush to judgment. >> stephanie: it reminds me congress woman, we talked about this yesterday -- we are really -- at lease you are -- trying to govern in unprecedented times. we have never seen the hostage with the debt limit, and every nominee that the president puts forward they oppose just because the president is for it. >> certainly in the 14 years that i have been here but i think some of those issues like the debt ceiling, this is absolutely new territory. >> stephanie: yeah even the republican party -- we have just not seen a version of it that it was willing to take the united st
and if we go forward, just drop this debt ceiling craziness, or vote to increase the debt ceiling and also with the continuing resolution and the sequester, that we do things in a bipartisan way, but not necessarily with a majority of the majority in the house. >> stephanie: uh-huh. here is the president yesterday talking about his appointments. >> obama: i would suggest that everybody wait until they have seen all of my appointments who is in the white house staff and who is in my...
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Jan 16, 2013
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earlier, we said that as we do with the debt ceiling once again we're going as more of a debt popple. this higher interest rate proposal would be devastating for the economy. >> and how about ball mark? >> yes, they have pledged to hire 100,000 veterans that are returning from the war over the next five years. and a job is a job, let us just remember that even if is a transition jobs. soldiers are known for their commitment, sacrifice. wal- mart believes that the leadership to want to be seen as a blue-chip company. >> thank you, rob. and now, coca-cola we all know that obesity is a huge health problem in the u.s. and now - the people at coca-cola seem to be joining the fight against calories. but many wonder if this is really just an example of good marketing. felicia taylor has the story. pay attention to the man walking away from the camera. let's stop the video right here now the question is will the postal truck do the right panel also, coca-cola still seeing increases with their non-cola items. the company is already getting cal ripken to the front of their labels. felicia taylo
earlier, we said that as we do with the debt ceiling once again we're going as more of a debt popple. this higher interest rate proposal would be devastating for the economy. >> and how about ball mark? >> yes, they have pledged to hire 100,000 veterans that are returning from the war over the next five years. and a job is a job, let us just remember that even if is a transition jobs. soldiers are known for their commitment, sacrifice. wal- mart believes that the leadership to want...
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Jan 21, 2013
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coming up, will the debt ceiling debate delay your tax refund? next in the president obama has begun his second term by declaring the possibilities are limitless. our political panel takes a look at the next four years. ♪ >>> from our fox business studios in new york, here, again, is gerri willis. gerri: well, not wasting a second of the second term, president obama making it clear who is in charge the next four years laying out a bold agenda in the inaugural address. that's how i read it. with more, maryann marsh, a democratic strategist, and rich lawry, editor of "the national review. " what do you think of the speech? >> audacious. one, it was an unabashedly progressive speech, shorn of the pose that's characterized as rhetoric. it also, i think, was audacious in its appropriation of the tradition of the american foundings. it was a direct challenge to republicans and the tea party saying you are obsessed with the founders. you are wrong. i am the one firmly within the tradition, and you are outside the mainstream, and you better get on boar
coming up, will the debt ceiling debate delay your tax refund? next in the president obama has begun his second term by declaring the possibilities are limitless. our political panel takes a look at the next four years. ♪ >>> from our fox business studios in new york, here, again, is gerri willis. gerri: well, not wasting a second of the second term, president obama making it clear who is in charge the next four years laying out a bold agenda in the inaugural address. that's how i...
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Jan 13, 2013
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obama voted against increasing the debt ceiling. i find it weeferd that his allies, are saying that the people who do that are bads. we have an interesting time coming up. in the next few weeks in the united states, we have the debt ceiling will get to the point of default. we have the tennessee continuing resolution under which the government is running, expires march 28. the sequestration which was put off two months. if i were at the level of a dictator here, i would take the debt ceiling and push it off to say, june 30. you can't fight all three at the same time. a., i believe the democrats are as scared of the sequestration as the republicans are. there is nothing you can cut on the debt ceiling you can't cut on the continuing resolution. so i would say, mr. president, we are going to put the debt ceiling off to june 30. let me tell you why. between now and then, we are going on cut $3 trillion, $4 trillion -- whatever it is on the continuing resolution and the sequestration. if you stop us from doing that, you are going to put
obama voted against increasing the debt ceiling. i find it weeferd that his allies, are saying that the people who do that are bads. we have an interesting time coming up. in the next few weeks in the united states, we have the debt ceiling will get to the point of default. we have the tennessee continuing resolution under which the government is running, expires march 28. the sequestration which was put off two months. if i were at the level of a dictator here, i would take the debt ceiling...
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and what the federal government chooses to do or not to do regarding the debt ceiling. >> reporter: he said if washington fails to act on the debt creel, the national economy could dip, throwing all of the numbers off. >> that's going to have a very significant effect on revenues in california. >> reporter: the govern's budget that was released last thursday will be revised or updated in may. that is when we will truly know if our surplus plus has grown with the economy, or if it has dropped. >>> it doesn't look like survivors who filed lawsuits against pg & e are for the deadly san bruno explosion will go to trial. during a hearing in san mateo county superior court today, attorneys said they have come up with a process that should take about 90 days to settle the remaining legal claims. about 320 residents filed suit, and so far mediation efforts have netted settlements for some 120 plaintiff. >>> family members and politicians are calling for more resources to prevent military suicide as the number of suicides last year surged. numbers obtained from the pentagon show there were 349
and what the federal government chooses to do or not to do regarding the debt ceiling. >> reporter: he said if washington fails to act on the debt creel, the national economy could dip, throwing all of the numbers off. >> that's going to have a very significant effect on revenues in california. >> reporter: the govern's budget that was released last thursday will be revised or updated in may. that is when we will truly know if our surplus plus has grown with the economy, or if...
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Jan 15, 2013
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and what the federal government chooses to do or not to do regarding the debt ceiling. >> reporter: he said if washington fails to act on the debt creel, the national economy could dip, throwing all of the numbers off. >> that's going to have a very significant effect on revenues in california. >> reporter: the govern's budget that was released last thursday will be revised or updated in may. that is when we will truly know if our surplus plus has grown with the economy, or if it has dropped. >>> it doesn't look like survivors who filed lawsuits against pg & e are for the deadly san bruno explosion will go to trial. during a hearing in san mateo county superior court today, attorneys said they have come up with a process that should take about 90 days to settle the remaining legal claims. about 320 residents filed suit, and so far mediation efforts have netted settlements for some 120 plaintiff. >>> family members and politicians are calling for more resources to prevent military suicide as the number of suicides last year surged. numbers obtained from the pentagon show there were 349
and what the federal government chooses to do or not to do regarding the debt ceiling. >> reporter: he said if washington fails to act on the debt creel, the national economy could dip, throwing all of the numbers off. >> that's going to have a very significant effect on revenues in california. >> reporter: the govern's budget that was released last thursday will be revised or updated in may. that is when we will truly know if our surplus plus has grown with the economy, or if...
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ceiling and your own history on the debt ceiling. >> getting votes for the debt ceiling are always difficult and bulge nets this town are always difficult. this is the united states of america, major. we can't manage our affairs in such a way that we pay our bills and we provide some certainty in terms of how we may our bills. if we want to have a conversation about how to redust our deficit let's have that. we've been having that nor the last two years. we just had an entire campaign about it. by the way the american people agreed with me that we should reduce our deficits in a balanced way that takes into account the need for us to grow this economy. martha: bob beckel is former democratic campaign manager and cohost of the five. mary katherine ham is editor at large and fox news contributor. why do you think it was so testy yesterday? >> obama's best form is not necessarily a press conference which is why he does than do many of them. i which he was testy for one real reason. the republicans trying to take the full faith and crucify the united states currency and putting it at fist being.
ceiling and your own history on the debt ceiling. >> getting votes for the debt ceiling are always difficult and bulge nets this town are always difficult. this is the united states of america, major. we can't manage our affairs in such a way that we pay our bills and we provide some certainty in terms of how we may our bills. if we want to have a conversation about how to redust our deficit let's have that. we've been having that nor the last two years. we just had an entire campaign...